Gold Purchase Agreement: Definition, Example
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Quick Facts — Gold Purchase Agreement Lawyers
- Avg cost to draft a Purchase Agreement: $880.00
- Avg cost to review a Purchase Agreement: $720.00
- Lawyers available: 259 business lawyers
- Clients helped: 566 recent gold purchase agreement projects
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What is a Gold Purchase Agreement?
A gold purchase agreement is contract between a gold buyer and seller that solidifies the terms and conditions of the sale and makes it official. This document includes details about what type of gold is being sold, for what price, and on what date the payment is to be made. It also typically contains clauses that guarantee the legitimacy of the gold itself.
The gold purchase agreement is important because it simplifies the buyer-seller relationship. By noting specific rules and regulations, buyers and sellers are able to effortlessly work together toward closing the deal while being certain that their interests are being protected.
Gold Purchase Agreement Sample
Exhibit 10.1
FORWARD GOLD PURCHASE AGREEMENT
The undersigned (the “Purchaser”) hereby irrevocably subscribes for and agrees to purchase from GOLDEN CHEST LLC (the “Seller”), a subsidiary of New Jersey Mining Company (the “Issuer”), ounces of forward gold production of the Seller as represented below at a price of $935 per ounce of gold for an Aggregate Purchase Price of $ (the “Aggregate Purchase Price”). The Purchaser agrees to be bound by the agreements set forth in this Forward Gold Purchase Agreement, the Subscription Agreement, Schedule A “Security of the Forward Gold Purchase Agreement,” and Schedule B “Accredited Investor Questionnaire”, which documents, along with the Private Placement Memorandum (“PPM”), are attached hereto and form part of this Forward Gold Purchase Agreement. The Seller shall deliver ounces of .999 gold on a quarterly basis over eight quarters with the first payment beginning December 1, 2016, for a total of ______ounces of .999 gold, in the following quarterly amounts:
(i)
______ ounces of .999 gold on or before December 1, 2016;
(ii)
______ ounces of .999 gold on or before March 1, 2017;
(iii)
______ ounces of .999 gold on or before June 1, 2017;
(iv)
______ ounces of .999 gold on or before September 1, 2017;
(v)
______ ounces of .999 gold on or before December 1, 2017;
(vi)
______ ounces of .999 gold on or before March 1, 2018;
(vii)
______ ounces of .999 gold on or before June 1, 2018; and
(viii)
______ ounces of .999 gold on or before September 1, 2018.
PURCHASER
DELIVER THE GOLD TO:
Signature of Purchaser
Attention – Full Name
Name of Purchaser (Printed)
Street Address
Purchaser’s Street Address
City, State and Postal Code
City, State and Postal Code
Telephone Number
PENALTY UPON DEFAULT AND CONVERTIBILITY
Failure of the Seller to meet minimum monthly gold distribution schedules will result in a penalty premium to be paid to the Purchaser equal to 20% interest per annum on the remaining balance of distributable gold, to be calculated over such quarterly period. For any particular quarterly period and upon 90-days notice to the Seller, Purchaser may convert the amount due for the quarter into cash equal to the value of the gold, which shall be calculated by using the average of the London PM fix prices during such quarter.
The Seller hereby accepts the subscription as set forth above on the terms and conditions contained in this Forward Gold Purchase Agreement (including the PPM, Subscription Agreement and Accredited Investor Questionnaire attached hereto) as of this ___ day of , 2016.
GOLDEN CHEST LLC
NEW JERSEY MINING COMPANY
a subsidiary of New Jersey Mining Company
Issuer and Parent Company
Per:
Per:
Grant Brackebusch, Manager
Del Steiner, CEO
Address: 201 N. 3rd Street
201 N. 3rd Street
Coeur d’Alene, Idaho 83814
Coeur d’Alene, Idaho 83814
Email: gbrack@newjerseymining.com
Email: gbrack@newjerseymining.com
1
Reference:
Security Exchange Commission - Edgar Database, EX-10 2 ex101.htm FORM OF GOLD PURCHASE AGREEMENT, Viewed September 16, 2022, View Source on SEC.
Who Helps With Gold Purchase Agreements?
Lawyers with backgrounds working on gold purchase agreements work with clients to help. Do you need help with a gold purchase agreement?
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Meet some of our Gold Purchase Agreement Lawyers
Terence B.
Terry Brennan is an experienced corporate, intellectual property and emerging company transactions attorney who has been a partner at two national Wall Street law firms and a trusted corporate counsel. He focuses on providing practical, cost-efficient and creative legal advice to entrepreneurs, established enterprises and investors for business, corporate finance, intellectual property and technology transactions. As a partner at prominent law firms, Terry's work centered around financing, mergers and acquisitions, joint ventures, securities transactions, outsourcing and structuring of business entities to protect, license, finance and commercialize technology, manufacturing, digital media, intellectual property, entertainment and financial assets. As the General Counsel of IBAX Healthcare Systems, Terry was responsible for all legal and related business matters including health information systems licensing agreements, merger and acquisitions, product development and regulatory issues, contract administr
"Working with Terence was quick and easy, we would highly recommend him."
Leonid G.
I have been practicing law since 2018. I used to be a litigator at a nationwide practice before going in-house at a fintech company. I have experience drafting NDAs, SaaS contracts, service agreements, and stock purchase agreements.
"I highly recommend working with Leonid for any of your legal needs. Leonid clearly explained the process step by step, made sure to take the time to fully understand my case, and fought hard on our behalf. Hiring Leonid to represent my business not only made the entire process a lot less stressful, but also resulted in saving us some money on our settlement. Thanks again for all the help!"
Bryan B.
Experienced attorney and tax analyst with a history of working in the government and private industry. Skilled in Public Speaking, Contract Law, Corporate Governance, and Contract Negotiation. Strong professional graduate from Penn State Law.
"Bryan completed our Membership Purchase Agreement very quickly and added valuable information to the agreement for clarity."
Anand A.
Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.
"Anand was super easy to work with. He was always responsive, knowledgeable, and helpful. Highly recommend him!"
Ralph S.
Ralph graduated from University of Florida with his JD as well as an LLM in Comparative Law. He has a Master's in Law from Warsaw University , Poland (summa cum laude) and holds a diploma in English and European Law from Cambridge Board of Continuous Education. Ralph concentrates on business entity formation, both for profit and non profit and was trained in legal drafting. In his practice he primarily assists small to medium sized startups and writes tailor made contracts as he runs one of Florida disability non profits at the same time. T l Licensed. in Florida Massachusetts and Washington DC this attorney speaks Polish.
"BEST ATTORNEY EVER! HIS PRICES ARE GOOD AND HIS SERVICE IS EXTREMELY EXCELLENT!"
Lolitha M.
Small firm offering business consultation and contract review services.
"Did great. She was responsive even after hours, will use again!!!"
October 26, 2021
Steve C.
I am a corporate and business attorney in Orange County, CA. I advise start-ups, early-growth companies, investors, and entrepreneurs in various sectors and industries including technology, entertainment, digital media, healthcare, and biomedical.
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Browse Lawyers NowLawyer Reviews for Gold Purchase Agreement Projects
Weekend Review: 13-Page $40K Landscaping Route / Customer List Purchase Agreement (Asset Sale – No LLC, Equipment, or Real Estate)
"Dolan W was amazing, really fast and professional. Great Work"
Review Purchase Agreement
"Robert was fantastic to work with, very responsive, and provided the legal guidance I needed to support the sale of my asset."
Limited-Scope Review of Temporary Refinance and Property Sale Agreement (Indiana)
"Very receptive and kind. Made sure to think of every possible loop and made me aware of what my outcomes could be."
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
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Digital Artwork Purchase Agreement
Location: Texas
Turnaround: Less than a week
Service: Drafting
Doc Type: Purchase Agreement
Number of Bids: 4
Bid Range: $350 - $850
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